Retroactive Date of Inception (Retro Date)

The date your Errors and Omissions Insurance coverage begins.

Usually, the retro date is the date a business purchases its insurance. But policies with prior acts coverage will have a retro date before the policy was purchased. Many Errors and Omissions Insurance policies only cover lawsuits over events that occurred after the date of purchase, which can leave IT businesses exposed to lawsuits from before their policy was active. (Read more about avoiding lapses in E&O Coverage.)